Risk and uncertainty are inescapable factors in agriculture. Farmers face production risk, from the weather, crop and livestock performance, and pests and diseases, as well as government-controlled institutional risk, and personal or human risk. Together with price or market risks, these constitute business risk which is further related to financial risk. All of these factors must be managed to achieve satisfactory management in agriculture. The aim of this book is to introduce the nature of agricultural decision making under uncertainty, the concept of rational choice and its foundations in theories of probability and risk preference. It also describes methods for the analysis of risky decisions that can be used in agriculture and the preparation of plans for risk management.
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J. Brian Hardaker, Department of Agricultural and Resource Economics, University of New England. Ruud B. M. Huirne, Department of Farm Management, Wageningen Agricultural University. Jock R. Anderson, World Bank.Review:
Reviews from the first edition: "There is no doubt that this textbook is viewed as a sound guide on managing risk in agriculture. It will certainly remain a leading textbook in farm management." (European Review of Agricultural Economics)
“I really enjoyed ready this book. I can recommend it without hesitation as a basic text.” (European Review of Agricultural Economics)
“This is a very useful text which should be on the shelf of anyone interested in the analysis of decisions at the farm level.” (Journal of Agricultural Economics)
"An ambitious, comprehensive compendium of modern methods and techniques." (Journal of Agriculture and Applied Economics)
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Descripción CABI, 1997. Paperback. Estado de conservación: New. Never used!. Nº de ref. de la librería P11085199119X